Lino Companys worksheet for the preparation of its 20X1 statement of cash flows included the following information:
Question:
Lino Company’s worksheet for the preparation of its 20X1 statement of cash flows included the following information:
Lino’s 20X1 net income is $150,000.
Required:
What amount should Lino include as net cash that is provided by operating activities in the statement of cash flows?
Transcribed Image Text:
December 31 January 1 Accounts receivable $23,000 $29,000 1,000 8,200 Allowance for uncollectible accounts 800 Prepaid rent expense Accounts payable 12,400 19,400 22,400
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 60% (5 reviews)
Linos net cash from operating activities is calculated below ...View the full answer
Answered By
Amos Kiprotich
I am a wild researcher and I guarantee you a well written paper that is plagiarism free. I am a good time manager and hence you are assured that your paper will always be delivered a head of time. My services are cheap and the prices include a series of revisions, free referencing and formatting.
4.90+
15+ Reviews
21+ Question Solved
Related Book For
Financial Reporting And Analysis
ISBN: 9781260247848
8th Edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
Question Posted:
Students also viewed these Business questions
-
Lino Companys worksheet for the preparation of its 2014 statement of cash flows included the following information: Linos 2014 net income is $150,000. Required: What amount should Lino include as net...
-
Lino Company's worksheet for the preparation of its 2017 statement of cash flows included the following information: ________________________________December 31 January 1 Accounts...
-
The following information is available for the Bott Company: Additional information for the year: (a) (b) Last year depreciation expense was inadvertently understated in the amount of $1,800. The...
-
State the date (or dates) on which corporation tax is due for payment in relation to the following periods of account: (a) the year to 31 March 2021 (b) the six months to 30 November 2020 (c) the 21...
-
Complete the following statement: The smaller the p-value associated with a test of hypothesis, the stronger the support for the hypothesis. Explain your answer.
-
Gary Stevens and Mary James are production managers in the Consumer Electronics Division of General Electronics Company, which has several dozen plants scattered in locations throughout the world....
-
\(\mu=150, \sigma=25, n=49\) In Exercises 1-4, a population has a mean \(\mu\) and a standard deviation \(\sigma\). Find the mean and standard deviation of the sampling distribution of sample means...
-
Fuqua Companys sales budget projects unit sales of part 198Z of 10,000 units in January, 12,000 units in February, and 13,000 units in March. Each unit of part 198Z requires 4 pounds of materials,...
-
ACc10008 Financial Information Systems Assignment Semester 2, 2021 Due date: 11.59 pm Sunday 7 November 2021 General information Al Wilson owns and runs a retail and wholesale surf shop, Surf Haven...
-
1. What changes in employment relationships are likely to occur as the population ages? 2. How can organizations cope with differences related to age discrimination in the workplace? How can older...
-
The management of Banciu Corporation provides you with comparative balance sheets at December 31, 20X1, and December 31, 20X0, appearing below. Supplemental Information: a. The following table...
-
The Barden Corporations comparative balance sheets for 20X1 and 20X0 are presented below. Income Statement for the Year Ended December 31, 20X1 $ 1,600,000 2,000 44,000 1,646,000 720,000 386,000...
-
The following shareholders equity accounts are reported by Talty Inc. on January 1: Common shares (unlimited authorized, 500,000 issued) ......................................
-
The prices (in dollars) for a sample of personal computers are: 550, 700, 420, 580, 550, 450, 690, 390, 350. Calculate the mean, median, and mode for this sample.
-
Weekly ice cream sales and weekly average temperature. In Exercises 2530, determine whether the association between the two variables is positive or negative.
-
A persons age and the persons income. In Exercises 2530, determine whether the association between the two variables is positive or negative.
-
The y-intercept b0 of a least-squares regression line has a useful interpretation only if the x-values are either all positive or all negative. In Exercises 812, determine whether the statement is...
-
The least-squares regression line predicts the result of changing the value of the explanatory variable. In Exercises 812, determine whether the statement is true or false. If the statement is false,...
-
a. Calculate the payoff and profit at expiration for the February 190 calls, if you purchase the option at the stated price and at expiration the stock price is $195. b. Calculate the payoff and...
-
Digital Fruit is financed solely by common stock and has outstanding 25 million shares with a market price of $10 a share. It now announces that it intends to issue $160 million of debt and to use...
-
Friedmans Inc. is a leading fine jewelry retailer. In November 2004, the company said that it might default on certain of the financial covenants contained in one of the company loan agreements. Here...
-
Locate the most recent annual report of Toshiba Corporation, the large Japanese electronics company, on the companys website: www.toshiba.co.jp. You will find an electronic copy of the annual report...
-
Locate the most recent annual report of Toshiba Corporation, the large Japanese electronics company, on the companys website: www.toshiba.co.jp. You will find an electronic copy of the annual report...
-
20. If the marginal rate of technical substitution (RTS of L for K) at some input combination is this means that If the firm employs 1 more unit(s) of labor, the firm can employ 3 fewer unit(s) of...
-
Under the model of monopolistic competition, a ( an ) _ _ _ _ _ _ _ _ in the number of firms in the industry will cause _ _ _ _ _ _ _ _ to _ _ _ _ _ _ _ _ . A ) increase; average price; decrease B )...
-
The budget for each work package is ______. A. charged completely on the first day of the work package B. charged at the end of the project C. distributed over the duration of the work package D....
Endocannabinoids The Brain And Bodys Marijuana And Beyond 1st Edition - ISBN: 0367391910 - Free Book
Study smarter with the SolutionInn App